EXPLORING AUSTRALIA’S DISCOVERY

HOTSPOTS

Investor Presentation

February 2023

ASX : DEV
 Important Information
 Forward Looking Statements
This Presentation contains forward-looking statements which are identified by words such as ‘may’, ‘could’, ‘believes’, ‘estimates’, ‘targets’, ‘expects’, or ‘intends’ and other similar words that involve risks and uncertainties.
These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Presentation, are considered
reasonable. Such forward-looking statements are not a guarantee of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of
the Company, the Directors and the management. The Directors cannot and do not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this
Presentation will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Directors have no intention to update or revise forward-looking statements, or to publish
prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Presentation, except where required by law or the ASX listing rules.
 No offer to sell or invitation to buy
This Presentation is not, and should not be considered to, constitute any offer to sell, or solicitation of an offer to buy, any securities in DevEx Resources Limited, and no part of this Presentation forms the basis of any contract
or commitment whatsoever with any person. DevEx Resources Limited does not accept any liability to any person in relation to the distribution or possession of this Presentation from or in any jurisdiction.
 Disclaimer
Whilst care has been exercised in preparing and presenting this Presentation, to the maximum extent permitted by law, DevEx Resources Limited and its representatives:
 make no representation, warranty or undertaking, express or implied, as to the adequacy, accuracy, completeness or reasonableness of this Presentation;
 accept no responsibility or liability as to the adequacy, accuracy, completeness or reasonableness of this Presentation; and
 accept no responsibility for any errors or omissions from this Presentation.
 Competent Person Statement
The information in this Presentation that relates to Exploration Results for the Nabarlek, Sovereign and Junee Projects are extracted from the ASX announcements titled:
• “More High-Grade Uranium Across Multiple Prospects Confirms Outstanding Growth Potential at Nabarlek” released on 24 January 2023;
• “High-Grade Uranium Confirmed at Nabarlek” released on 29 November 2022;
• “More Significant Uranium Intersected at Nabarlek” released on 19 October 2022;
• “High-Grade Uranium Intersected at Nabarlek” released on 9 August 2022;
• “Shallow intercepts continue to define gold zone at Junee” released on 5 August 2022;
• “Initial Assay Results Indicate Potential for Porphyry Copper-Gold System at Junee” released on 26 April 2022;
• “Further diamond drilling and initial assays confirm extensive, thick, and prospective intrusive sequence at Sovereign” released on 23 December 2021;
• “Initial diamond drilling at Sovereign intersects thick intrusive sequence with disseminated nickel-copper sulphides” released on 10 November 2021;
• “DevEx ramps-up exploration at Nabarlek Uranium Project, NT after identifying new high-grade targets” released on 29 September 2021;
• “Large-scale, 12km long mafic-ultramafic intrusion at Sovereign Project, paving way for ground EM and initial diamond drilling” released on 17 August 2021;
• “Technical review recognises strong similarities between U40 prospect and the Coronation Hill U-Au-PGE deposit” released on the 9 May 2019;
• “Large drill target defined below Nabarlek Uranium Mine, West Arnhem Project, NT” released on 9 October 2018;
• “UEQ Identifies High Grade Copper-Gold and Base Metal Potential at NT Uranium Prospects” released on the 4 October 2017; and
• “Higher Uranium Grades Returned from U40 Prospect – Nabarlek” released on the 16 December 2010;
all of which are available on www.devexresources.com.au.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant original market announcement and that all material assumptions and technical parameters
underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.
 Exploration by Other Explorers
This Presentation contains information sourced from the reports of Other Explorers. References to the original reports are provided as footnotes where the information is cited in this Presentation. The Company does not vouch
for the accuracy of these reports. The Company has taken the decision to include this information as it is in the public domain and has assessed it to be of relevance to shareholders and investors.
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 Exploring Australia’s discovery hot-spots

Alligator Rivers Uranium Province, NT

Nabarlek • Nabarlek Project – Targeting high-grade uranium and copper-gold, surrounding the historical
Uranium Project Nabarlek Uranium Mine (24 Mlbs @ 1.8% U3O8 produced)

• Unique - One of very few ASX companies with high-grade uranium in Australia
Sovereign
• Multiple, shallow, near-mine, targets defined along strike from historic uranium intercepts. New
Project
uranium intercepts incl. 10.1m @ 1.1% U3O8 and 2.0m @ 0.6% U3O8

Julimar Complex, WA
North Cobar Project • Exciting exploration opportunity in the emerging West Yilgarn Province

• Sovereign Project – Exploring a 12km long differentiated mafic-ultramafic intrusion identified,

consistent with upper portion of Julimar mafic-ultramafic intrusion
PERTH SYDNEY
Lachlan Fold Belt, NSW
Junee Project
• Junee Project – located in Australia’s porphyry copper-gold heartland

‒ Large scale, shallow copper-gold intercepts broadening to the south

‒ Drilling commenced

• North Cobar Project – Exploring the northern extension to the fault corridor hosting the Cobar
Mining Centre (host to CSA Mine)

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 Corporate Overview

Board of Directors
Capital Structure
Tim Goyder
Shares 366.1M Chairman
Mining executive with strong track record of successful investment and value creation for
Options 14.5M shareholders.
Market Cap $111.7M (at 30.5c2) Chairman of Liontown Resources, NED of Minerals 260 and EntX, former Chairman of
Chalice Mining.
Cash1 $16.8M
Brendan Bradley
Assets entX Limited (4.6%) Patented Managing Director
technology to recover uranium from Geologist for 25+ years with extensive experience in exploration and development of
phosphate fertilizer 3 epithermal gold deposits.
Highly experienced in intrusive related nickel-copper-PGE deposits.
Senior management at Perilya Ltd, Dominion Mining Ltd and Kingsgate Consolidated Ltd.
Major Shareholders Stacey Apostolou
Executive Director
Tim Goyder (Chairman) 16.99% 30+ years experience in the mining and exploration industry.
Paradice Investment Management Pty Ltd 6.10% Finance executive for a number of publicly listed companies.
Most recently CFO for (formerly) EMR Capital owned Golden Grove and Capricorn Copper.
Top 20 44.60%
Bryn Jones
Non-Executive Director
Industrial chemist with over 20 years of experience in the uranium industry, including the
development and operation of ISR uranium mines.
MD of EntX Limited and NED of Boss Energy and Australian Rare Earths.

Richard Hacker
1 At 31 December 2022 Non-Executive Director
2 Closing price on 31 January 2023
Finance executive with 25+ years corporate and commercial experience in the energy and
3 Formerly PhosEnergy Limited: https://www.entx.com.au/
resources sector.
CFO for Chalice Mining and formerly CFO of Liontown Resources.

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Major uranium asset in Australia’s highest-grade uranium province

The Alligator Rivers Uranium Province, NT (ARUP)

• +500Million Pounds U3O8 endowment (mined and current
Resources1,2)
• Close analogue to uranium deposits in the Athabasca Basin in
Canada, incl.:
• Rook I Project – 337Mlbs3 U3O8 (NexGen Energy Ltd)

DevEx’s Nabarlek Project (100%)

• Centred on the historical Nabarlek Uranium Mine
Production History : 24 Mlbs @ 1.84% U3O81

• DevEx holds a dominant ground position of +4,700sq.km

Granted Tenure: Mining Lease and three exploration tenements

• Numerous drill targets recognised in 50 years of exploration data

See Slide 16 for References. 5

 Nabarlek Project Time to Power Up

150

Nabarlek Mine Area

125

• Exploration centered on the

100 historical Nabarlek Uranium
Mine
Uranium Spot Price

Exploration Camp
• Well established infrastructure
US$/lb

Acquired Nabarlek
75 and support network
Fukushima Event March 2022: US$59/lb
10 year high • Positive working relationships
with traditional owners
50
• Exploration activities were
building momentum prior to
uranium’s downturn post 2011
25
• ….time to power up!

2006 2008 2010 2012 2014 2016 2018 2020 2022

Source: TradeTech and www.uranium.info
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Nabarlek Project: Delivering results across multiple uranium prospects

2022 Drilling now delivering multiple high

grade uranium:
Nabarlek South
Near surface fracture hosted uranium
mineralisation in dolerite, preliminary results incl.:
10.1m @ 1.1% U3O8 from 124m

incl 3.3m @ 2.65% U3O8

53.3m @ 0.23% eU3O8 from 82m
Incl 5.3m @ 0.52% eU3O8

U42
New high-grade U3O8 intercept seen in broad
spaced reconnaissance RC drilling:
2.0m @ 0.59% U3O8 from 188m
Incl 1.0m @ 1.03% U3O8

More exciting uranium targets to drill test in

2023

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Nabarlek Project: Near surface uranium at Nabarlek South

2022 diamond drilling indicates:

• Near surface fracture hosted uranium mineralisation in dolerite
• Multiple high-grade uranium in narrow fractures which bulk out over broader intervals
• Potential to expand Nabarlek South uranium mineralisation

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 Nabarlek Project: Nabarlek South Regional Targets

• Sparse RC/diamond drilling over several

kilometres defining uranium mineralisation
• Uranium association with southern edge of ENE
gravity feature
• Untested uranium drillhole intercepts east and
west of recent 2022 drilling
• Expanded drilling programme planned for
2023

RC/Diamond drilling underlain by regional gravity image

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Nabarlek Project: New basement intercept north of U42 Prospect

U42 Prospect
• Large scale uranium target identified, similar in
style to nearby world class Ranger Uranium
Deposit
• Broad spaced reconnaissance RC drilling has
intersected new high-grade uranium
mineralisation beneath the flat dolerite:
2.0m @ 0.59% U3O8 from 188.0m
incl 1.0m @ 1.03% U3O8

• RC drill chips: Black uranium minerals visible

within basement rocks

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Nabarlek Project: Uranium trend to the north of U42 Prospect, untested

U42 Prospect
• Airborne radiometric data has highlighted a
prominent uranium trend that closely matches
the recent bedrock uranium intercepts
• Wide open drilling opportunity
• Priority target for follow-up drilling in 2023

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Julimar Complex: New ground in a new nickel-copper-PGE region

• Recent discovery of high-grade palladium and associated

nickel-copper-platinum group elements (Ni-Cu-PGE) by
Chalice Mining Limited (ASX:CHN) has kicked off an
exploration boom in the region

• Sovereign Project located between the Chalice discovery

and the Yarawindah Brook Ni-Cu-PGE Project (Caspin
Resources Limited, ASX:CPN)

• The right rocks - Large 12km-long Sovereign Mafic-

Ultramafic Intrusion defined with no previous Ni-Cu-PGE
exploration

• Extensive ground EM surveys over the larger intrusion

have commenced

• Ground EM conductors will be fast-tracked to drilling

See ASX : DEV Announcement 16 August 2021. See Slide 16 for References. Tenement outlines held by Chalice and Caspin are combined for context. 12
Central Lachlan Fold Belt Region: Sizeable portfolio amongst majors

1 A world-class gold, copper-gold belt

Host to Cadia-Ridgeway (Newcrest Mining) and Northparkes (China Molybdenum Co
Ltd), as well as several large-scale gold deposits including the Cowal Gold Mine
(Evolution Mining Ltd) and the McPhillamys Gold deposit (Regis Resources Limited)

2 Major explorers within the Junee-Narromine Volcanic Belt

Extensive tenure and exploration activity in the region by major explorers including:
Newmont Goldcorp Exploration Pty Ltd | Evolution Mining Ltd | Sandfire Resources
Limited

3 DevEx – Fresh exploration on under-explored ground

• Significant re-rating of the region after a 2017 government mapping project2

recognised the rocks as the southern extension of the Junee-Narromine Belt
• No previous drilling within a globally-recognised copper-gold region for decades
• DevEx has built a large, well located 100%-owned ground holding

See Slide 16 for References. 13

Nangus Road Prospect: Large scale Au-Cu Drill Target

• Recent drilling defining shallow

high-grade gold mineralization -
open to the north, south and at
depth
• Gold intercepts lie within strongly
altered, sheared, volcanic rocks
flanked by monzonite intrusions
Billabong Creek
IP Chargeability
• Anomalous copper, and other
pathfinder elements are
suggestive of an underlying
porphyry Cu-Au system – open
to south
• Air-core drilling has commenced
• RC drilling planned to commence
in February

First diamond hole completed, with extensive hydrothermal

alteration intersected…

See ASX Announcement: 5 August 2022.

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 DevEx Next Steps

Nabarlek
• Planning underway for recommencement of drilling in second quarter
2023
• Drilling to expand upon the 2022 high-grade uranium intercepts, incl.:
o U42
o Nabarlek South

Sovereign
• Ground EM surveys over the mafic-ultramafic intrusion are underway
• EM conductors will be fast tracked to drilling

Junee
• Follow-up drilling has commenced

Nabarlek Pit circa 1980 15

 Contact Details Investor Relations
Level 3, 1292 Hay Street Read Corporate
West Perth WA 6005, Australia Nicholas Read
+61 8 9388 1474
+61 8 6186 9490 nicholas@readcorporate.com.au
+61 8 6186 9495

info@devexresources.com.au https://twitter.com/DevExResources
www.devexresources.com.au https://www.linkedin.com/company/devex-resources/

References Julimar Complex – Slide 12:

Nabarlek Project – Slide 5: 1. Chalice Mining Limited (ASX: CHN) ASX announcement “Tier-1 scale maiden Mineral
1. Production History: Resource for Gonneville – 10Moz Pd+Pt+Au (3E), 530kt Ni, 330kt Cu and 53kt Co” on 9
November 2021.
McKay, A.D & Miezitis, Y. 2001. Australia’s uranium resources, geology and
2. Caspin Resources Limited (ASX: CPN) ASX announcement “Primary Sulphide PGE
development of deposits. AGSO – Geoscience Australia, Mineral Resource Report 1.
Mineralisation Confirmed at Yarabrook Hill” on 5 July 2021.
ERA Annual Production Reports 2001 to 2018. 3. Harrison P. H., 1984. The mineral potential of layered igneous complexes within the
2. Mineral Resource: Western Gneiss Terrain. In: Professional papers for 1984 of the Geol Surv of W. A. 19.
Gov Printing Office, Perth, pp 37–54.
Vimy Resources Limited Mineral Resource Statement 20 March 2019.
4. Chalice Gold Mines Limited (ASX:CHN) ASX announcement “Major new 6.5km-long EM
Energy Resources of Australia Ltd (ASX:ERA) Annual Statement of Reserves and anomaly identified at Julimar” on 22 September 2020.
Resources January 2018.
Central Lachlan Fold Belt Region – Slide 13:
3. Rook I Project NI43101 Total Mineral Resource Estimate – Source NexGen Energy Ltd 2. 2019GSNSW East Riverina Mapping Project - Some Highlights and Implications,
website Eastlake and Trigg.

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